(Reuters) American hedge fund manager Bill Ackman’s Pershing Square is buying an additional 2.9% of Universal Music Group (UMG) from Vivendi (VIV.PA) for $1.149 billion, the French conglomerate said on Tuesday. Vivendi said the transaction was based on an enterprise value of 35 billion euros ($41.40 billion) for 100% of UMG’s share capital.
Pershing Square to buy extra 2.9% of Universal Music for $1.15 bln
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